Hodges Capital Management Inc. Reduces Stock Holdings in EnLink Midstream, LLC (NYSE:ENLC)

Hodges Capital Management Inc. decreased its position in shares of EnLink Midstream, LLC (NYSE:ENLC - Free Report) by 24.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,209 shares of the pipeline company's stock after selling 44,777 shares during the quarter. Hodges Capital Management Inc.'s holdings in EnLink Midstream were worth $1,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in EnLink Midstream in the second quarter worth approximately $28,000. Newbridge Financial Services Group Inc. purchased a new stake in EnLink Midstream in the second quarter worth approximately $56,000. Icon Wealth Advisors LLC purchased a new stake in EnLink Midstream in the third quarter worth approximately $107,000. First Horizon Advisors Inc. boosted its holdings in EnLink Midstream by 12.5% in the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company's stock worth $106,000 after purchasing an additional 853 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of EnLink Midstream by 21.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company's stock worth $116,000 after acquiring an additional 1,511 shares during the last quarter. Hedge funds and other institutional investors own 45.87% of the company's stock.

EnLink Midstream Stock Down 3.5 %

Shares of NYSE:ENLC traded down $0.54 during trading hours on Monday, hitting $14.80. The company's stock had a trading volume of 3,502,350 shares, compared to its average volume of 2,137,673. EnLink Midstream, LLC has a 52 week low of $11.53 and a 52 week high of $16.40. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 70.45 and a beta of 2.44. The firm's fifty day moving average price is $15.11 and its 200 day moving average price is $14.12.

EnLink Midstream (NYSE:ENLC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. The company's revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, research analysts expect that EnLink Midstream, LLC will post 0.51 EPS for the current year.

EnLink Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.1325 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.58%. EnLink Midstream's dividend payout ratio (DPR) is presently 252.38%.

Insider Buying and Selling

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ENLC shares. Stifel Nicolaus cut shares of EnLink Midstream from a "buy" rating to a "hold" rating and set a $15.00 price target on the stock. in a research note on Friday, August 30th. Capital One Financial restated an "equal weight" rating and set a $16.00 price objective on shares of EnLink Midstream in a research report on Tuesday, September 3rd. Royal Bank of Canada restated a "sector perform" rating and set a $15.00 price objective on shares of EnLink Midstream in a research report on Thursday, November 21st. Tudor Pickering upgraded shares of EnLink Midstream to a "strong-buy" rating in a research report on Friday, August 16th. Finally, UBS Group downgraded shares of EnLink Midstream from a "buy" rating to a "neutral" rating and set a $16.00 price objective on the stock. in a research report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, EnLink Midstream presently has an average rating of "Hold" and a consensus target price of $15.40.

EnLink Midstream Profile

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.